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pls give me answer detail. i need for calculate dtail. Thanks for support me 2. Johnny plc acquired 50% of the common shares of Julia
pls give me answer detail. i need for calculate dtail. Thanks for support me
2. Johnny plc acquired 50% of the common shares of Julia plc on 1/1/20X0 and gained control. At that date the statements of financial position of the two companies were as follows: # Johnny plc ($000) Julia plc ($000) Asset Non-current assets Property, plant and equipment 2401 120 Investment in Ball 160 Current assets 90 90 Total assets 490 210 Equity and Liability Capital and reserves Share capital 250 100 Share premium 40 Retained earnings 120 10 Current liabilities 120 60 Total equity and liabilities 490 210 Fair value of the property, plant and equipment in Julia at 1/1/20X0 was 150,000. The fair value of the non-controlling interest in Julia at 1/1/20X0 was 55,000. The 'fair value method' should be used to measure the non-controlling interest. Required: Prepare a consolidated statement of financial position for Johnny group as at 1 January 20X0Step by Step Solution
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